US markets decline as jobless claims rose in passing week

01 Feb 2013 Evaluate

The US markets dropped on Thursday, ending a blockbuster month on a soft note, as a jump in jobless claims spurred concern about the labor market before Friday’s employment data. Meanwhile, the Senate approved a short-term suspension of the country’s borrowing limit, taking the threat of default off the table but setting the stage for an intensified round of new budget battles. Sixty-four senators voted to approve a bill passed last week in the House of Representatives that suspends the $16.4 trillion debt limit until May, while 34 voted against. President Barack Obama is expected to quickly sign the measure. While the bill defuses the possibility of defaulting on payments, it also frees lawmakers up to focus more on so-called budget sequestration - automatic, across-the-board spending cuts - and the late-March expiration of government funding. The bill passed in the Senate allows the government to pay its bills until May 19.

On the economy front, the number of people who applied for new unemployment benefits last week bounced sharply higher, erasing a big drop earlier in the month that put US claims at a five-year low but likely stemmed from seasonal quirks. Initial jobless claims jumped 38,000 to a seasonally adjusted 368,000 in the week ended January 26. That’s the highest level in one month and marks the biggest increase since the week after super storm Sandy. On the other hand, the Chicago purchasing managers index rose to 55.6% in January, to mark the best performance in nine months. Any reading above 50 indicates expansion. Details of the report were also strong. New orders posted the biggest increase in 10 months, advancing to 58.2% from 50.4% in December. The production index jumped to 60.9%, while employment surged to 58.0% from 46.8%. Separately, the Commerce Department reported consumer spending rose 0.2% in December, as personal income climbed by the most in eight years, boosted by early dividend payments.

The Dow Jones Industrial Average dropped 49.84 points or 0.36 percent to 13,860.60, the Nasdaq lost 0.18 points or 0.01 percent to 3,142.13 and the S&P 500 was down by 3.85 points or 0.26 percent to 1,498.11.

Indian ADRs closed mostly in red on Thursday, ICICI Bank was down 0.61%, HDFC Bank was down by 0.57%, Dr. Reddy’s Lab was down 0.51%, Tata Motors was down 0.22% and Sterlite Industries was down 0.19%.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.